Replies to post #54230 on MATRIX Penny Stocks

[danodog]

Sorry to bump in...but I can share my similiar expereince. I have about $4700 in my account and I have had a strategy of buying one stock in cycles. After losing about $900 I decided to sit on the sidelines and read many books that I purchased at Borders. I searched and searched for a gem and found FARO. I went all in with the $1100 that I had left. Every 5-14 days I would buy and sell the same stock. I was getting any where from $150 to $500 per trade. I followed FARO from $8 to $29. I really started to get excited because I started with 100 shares and ended up with 180 by trading these cycles. While FARO still has good potential, it seems to be in a dead money cycle right now. I guess you can say that I became impatient.

I have now mentally split my portfolio in half so I can buy a stock such as FLCR and sell with out worrying about settlement dates. Instead of becoming a trend trader I can make one good day trade....hehehe and still have enough free cash to cover the trade. (Except that I still have a settlement date window of two to three days before I can spring again on an another day trade.) I hope to accumulate enough capital that I can make several trades a day in without the worry of settlement dates. I promised the wife that I would never open a margin account, she knew someone who lost the WHOLE farm and is very paranoid about me trading in this manner. So far she has been good and has not asked me to cash in for saefty reasons.....hehehe

I have been a good little squirrel and have been putting money into retirement for the last 13 years. I have a good diversified nest egg. This account is more of a challenge to learn and overcome...

Sincerely,

Dan Barnett

[miltonfreedmon]

Fusionz...sometimes 1 day and sometimes 3 days...it just depended on how I felt the stock was doing at the time...I have latley been playing news and 52 week breakout stocks during the first hour and a half of trading and the last hour of trading...because I am in school MWF from 10:00-1:00 GMT.

So when I get an alert that a stock is making a 52 week high I check the trend from barcharts to see if it is bullish, check a chart from stockcharts, I also look to see how many trades have been made in the day up to that point, and check the volume. But usually by the time I do all that and have decided to take a position (it usually takes me about 2 minutes or so) someone has allready posted the stock on the BOT board and if that happens usually I know that I have made a good pick and I jump in and ride the MOMO.

Some of my winners so far...I got alot of capital from QBID...I think I held for 6 days inlcuding the weekend...and latley have been in CDED for a small gain, BICO, SWME, FLCR(still holding), GOJO, GETC and others. But I have also lost some money in the last month and half, to much actually. I am up $4500 but I have lost $1500...so I could have been actually up $6000. I am still learning and some times I hold a little to long or sell to early for example with IMTO...and USXP

I bought USXP early right before the break actually one of my best plays this year as far as calling the break but I got greedy and thought that the stock would go up more and I watched it come right back down...I bought in at .68 and was going to sell at .73 but ended up selling at .63 instead because I thought it had a weak close and I did not want to hold it over night but I forgot to look at the chart before I sold at .63 and it closed right at the 10dma and if you look at the chart now I still think that USPX has some upside left in it...but my nerves got the best of me and so I sold for a loss when could have sold the next day maybe for a small gain.

All part of the game. This is generally what I have been doing for the last month and a half. I am not sure if it would be classified as daytrading but more playing to MOMO...

Good Luck to you,

milton

PS...lowtrades does not hold my money for the 3 day settlement period...for example in a day I can buya stock sell the stock and then buy another stock but then my money is tied up until the next day...